ED Restored Nirav-Mehul Properties: Union Finance Minister Nirmala Sitharaman told in the Lok Sabha on Tuesday (18 December 2024) that the Enforcement Directorate has returned the property of all the victims who have become victims of different scams.
Finance Minister Nirmala Sitharaman said that the ED has so far returned assets worth Rs 22,280 crore to the victims of several scams, including more than Rs 14,000 crore to several banks from the sale of fugitive businessman Vijay Mallya’s assets. Along with this, property worth Rs 1,053 crore of diamond merchant Nirav Modi has also been confiscated and returned to the victims. The ED and banks have together moved a special court in Mumbai for the sale of assets of Mehul Choksi, another diamond merchant who along with Nirav Modi had laundered money worth over Rs 13,000 crore of Punjab National Bank and Had fled the country.
Recovery of assets worth Rs 22,280 crore
Nirmala Sitharaman said in the Lok Sabha, “The Enforcement Directorate has seized assets worth about Rs 22,280 crore. I am only mentioning the important matters. This includes Vijay Mallya’s Rs 14,131.6 crore, the entire amount of the seized assets is from the public sector. Nirav Modi’s Rs 1,052.58 crore has been returned to public and private sector banks.
The Finance Minister said, “After the National Spot Exchange Limited (NSEL) scam, Rs 17.47 crore has been recovered and given to banks. Similarly, Rs 20.15 crore has been recovered from SRS Group, Rs 19.40 crore from Rose Valley Group, Surya Pharmaceuticals Limited Rs 185.13 crore from Nowhera Shaikh and others (Heera Group) Rs 226 crore from Naidu Amritesh Reddy and others Rs 12.73 crore were recovered.”
ED also recovered money from Mehul Choksi
Finance Minister Nirmala Sitharaman said, “Rs 2,565.90 crore has also been recovered from Mehul Choksi and others. Apart from this, Rs 25.38 crore has been recovered from Nafisa Overseas and others. Bhushan Power and Steel Limited (BPSL) has been recovered by the Supreme Court in its December Under the order, JSW was ordered to return assets worth Rs 4,025 crore.”
The Finance Minister said, “It is important to know that we have not spared anyone in economic crimes. We are taking action against them. We will ensure that the money which is supposed to go to the banks, goes back.”
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